STANDARD MANAGEMENT SERVICE

Druce Estate & Letting Agents Limited provides a property management service to owners wishing to let out their property.  The standard fee for the management is taken as a percentage of the gross rents due for the period of the tenancy and a set-up fee will normally be levied at the outset for taking references and arranging the tenancy. 

The Standard Management Service includes Points 1- 5 Let ONLY   – Points 1-12 Fully MANAGED

1.       Advising as to the likely rental income.

2.       Advertising and generally marketing the Property.

3.       Interviewing prospective tenants and arranging third party references at a cost. Where necessary, additional security would be requested by means of a guarantor or rent paid in advance. 

4.       Preparing the tenancy agreement necessary for the Landlord to gain protection of the relevant Rent and Housing Acts.

5.       Liaising with a Landlord’s mortgagees where necessary with regard to references and tenancy agreement.

6.       Taking a deposit from the Tenant, dealing with this deposit under the requirements of the chosen deposit protection scheme until the end of the tenancy when the Property and contents have been checked for unfair wear and tear and handling any termination issues with the Tenant and the tenancy deposit scheme provider.

7.       Collecting the Rent monthly and paying over to the Landlord monthly (normally sent within 7 days of collection) less any fees or expenses due or incurred for the period.  Payments will be made by direct bank transfer and a detailed rent statement will be forwarded to the Landlord.

8.       Arranging with service companies (principally electricity gas & water) for meter readings and advising them of the transfer of service contracts to the Tenant at the beginning of each tenancy.

9.       Two annual property inspections will be carried out per year. More can be arranged by way of separate negotiation.  Responsibility for and management of empty property is not normally included, and will only be carried out by special arrangement agreed in writing between the Landlord and the Agent.

10.    Co-ordination of repair or maintenance including arranging for tradesmen to attend the Property and obtaining estimates where necessary, supervising works and settling accounts from rents received.  

11.    Making payments on behalf of the Landlord from rents received for costs in managing the Property.

12.    Carrying out a full property inspection and check out at the end of the tenancy and, if necessary, preparing and agreeing a schedule of costs relating to any damage or unfair wear and tear prior to releasing the Deposit.

Our Fully Managed Fees:

Fees.

Tenancy ‘set up’: Charged at the equivalent of one month’s rent inc of VAT (Based on a standard 6/12 month tenancy)

Please note: Where longer tenancies are agreed our ‘Set Up’ Fee will increase proportionally (i.e 18 months = 1.5 x set up fee)

Plus, monthly charges:

Managed Long Lets (6 months or 12 months tenancy):                  11% of rent due + VAT paid monthly                                           

Managed Short Lets (3 – 5 months):                                                 13% of rent due + VAT paid monthly                                           

Managed Short Lets (1 – 2 months):                                                 15% % of rent due + VAT paid monthly                                       

Managed Short Lets (1-4 weeks):                                                     18% of rent due + VAT paid monthly                                           

Tenancy ‘set up’: Charged at £250.00 + VAT (Based on a standard 1/5 month tenancy)                                                             

ALTERNATIVE SERVICES AND FEES

Letting Only Service: Points 1-5 are Charged at equivalent of one month’s rent + VAT (Based on a standard 6/12-month tenancy)                    

Please note: Where longer tenancies are agreed our ‘Set Up’ Fee will increase proportionally (ie 18 months = 1.5 x set up fee)

Letting Only Service + Deposit Protection: Charged at equivalent of one month’s rent + VAT + additional charge of £90.00   

Letting Only Service + Rent Collection: Charged at equivalent of one months’ rent + VAT Plus 4% + VAT of monthly rent 

Marketing Only / Contract Only: The equivalent of two weeks’ rent (minimum fee applicable of £500 + VAT applicable)  

Please note: We also offer bolt on services to tailor our service to meet your requirements.

SCHEDULE OF CHARGES

Please select from the below services;

INVENTORY/SCHEDULE OF CONDITION FEE STRUCTURE

 CP12 – GAS SAFETY CERTIFICATION

£140.00

ENERGY PERFORMANCE CERTIFICATION (EPC)

£95.00

PROFESSIONAL CLEAN (poa)

£ POA (Property size dependant)

APPLICANT REFERENCING or COMPANY

£90.00 Per Person successfully referenced OR company £120.00

Please note, as your Agent, we do not advise this option and take no responsibility for any problems that may arise as a result of not obtaining the appropriate checks. 

EICR REPORT –

£ POA (Property size dependant)

PROPERTY INSPECTIONS (managed service includes 2x inspections per annum)

£90.00 per inspection & report

TENANCY RENEWAL FEE

£180.00

NOTICES: £180.00 (2nd notice charged at £90.00)

TENANT DEPOSIT PROTECTION SCHEME (INCLUDED IN MANAGED SERVICE)

TENANT LET ONLY DEPOSIT PROTECTION SCHEME £90.00